Conveyance of Subsequent Receivables Clause Samples

The Conveyance of Subsequent Receivables clause establishes the legal mechanism by which receivables generated after the initial agreement date are transferred from one party to another. Typically, this clause outlines the process for identifying, documenting, and transferring ownership of these new receivables, often on a periodic basis, such as monthly or quarterly. Its core practical function is to ensure that all future receivables intended to be part of the transaction are automatically included, thereby providing clarity and continuity in the transfer of assets and preventing disputes over ownership of newly arising receivables.
Conveyance of Subsequent Receivables. (a) If there is a Funding Period, subject to satisfaction of the conditions set forth in Section 2.03(b) below, in consideration of the Issuing Entity’s delivery on the related Subsequent Transfer Date, if any, to or upon the order of the Depositor of the amount described in Section 5.01(d) to be delivered to the Depositor and the increase in the value of the Certificates as a result of such sale, the Depositor does hereby agree to sell, transfer, assign, set over and otherwise convey to the Issuing Entity, without recourse (except as provided in Section 3.02), pursuant to an assignment in substantially the form of Exhibit D (a “Subsequent Transfer SSA Assignment”), all right, title and interest of the Depositor in, to and under: (i) the Subsequent Receivables identified in the Subsequent Transfer SSA Assignment (all of which are identified in World Omni’s computer files by a code indicating such Subsequent Receivables are owned by the Trust and pledged to the Indenture Trustee) and all monies received thereon and in respect thereof after the related Subsequent Cutoff Date; (ii) the security interests in, and the liens on, the Financed Vehicles granted by Obligors in connection with the Subsequent Receivables and any other interest of the Depositor in the Financed Vehicles; (iii) any proceeds with respect to the Subsequent Receivables from claims on any physical damage, credit life or disability insurance policies covering the Financed Vehicles or Obligors; (iv) any Financed Vehicle that shall have secured a Subsequent Receivable and shall have been acquired by or on behalf of the Depositor, the Servicer or the Trust; (v) all “accounts,” “chattel paper,” “general intangibles” and “promissory notes” (as such terms are defined in the Uniform Commercial Code as from time to time in effect) constituting or relating to the foregoing; and (vi) the proceeds of any and all of the foregoing (including Liquidation Proceeds); provided, however, that the foregoing items (i) through (vi) shall not include the Notes and Certificates. It is the intention of the Depositor and the Issuing Entity that the assignment and transfer contemplated by this Section 2.03 constitute (and shall be construed and treated for all purposes, other than for tax purposes, as) a true and complete sale of such Subsequent Receivables, if any, and the other property of the Depositor specified in Section 2.03(a) hereof, conveying good title thereto free and clear of any liens and encumbrances, fr...
Conveyance of Subsequent Receivables. For value received, in accordance with the CPS Purchase Agreement, the Seller does hereby sell, assign, transfer and otherwise convey unto the Purchaser, without recourse (but without limitation of its obligations under the CPS Purchase Agreement), all right, title and interest of the Seller in and to: (i) the Subsequent CPS Receivables listed in the related Schedule of Subsequent CPS Receivables and, with respect to Rule of 78's Receivables, all monies due or to become due thereon after the related Subsequent Cutoff Date (including Scheduled Payments due after the related Subsequent Cutoff Date (including principal prepayments relating to such Scheduled Payments) but received by the Seller on or before the related Subsequent Cutoff Date) and, with respect to Simple Interest Receivables, all monies received thereunder after the related Subsequent Cutoff Date and all Liquidation Proceeds and Recoveries received with respect to such Subsequent CPS Receivables; (ii) the security interests in the Financed Vehicles granted by Obligors pursuant to the Subsequent CPS Receivables and any other interest of the Seller in such Financed Vehicles, including, without limitation, the certificates of title or, with respect to Financed Vehicles in the State of Michigan, other evidence of ownership with respect to Financed Vehicles; (iii) any proceeds from claims on any physical damage, credit life and credit accident and health insurance policies or certificates relating to the Financed Vehicles securing the Subsequent CPS Receivables or the Obligors thereunder; (iv) refunds for the costs of extended service contracts with respect to Financed Vehicles securing the Subsequent CPS Receivables, refunds of unearned premiums with respect to credit life and credit accident and health insurance policies or certificates covering an Obligor or Financed Vehicle securing the Subsequent CPS Receivables or his or her obligations with respect to such a Financed Vehicle and any recourse to Dealers for any of the foregoing; (v) the Receivable File related to each Subsequent CPS Receivable; and (vi) the proceeds of any and all of the foregoing (collectively, the "Subsequent Transferred CPS Property" and together with any Subsequent Transferred Samco Property, the "Subsequent Transferred Property").
Conveyance of Subsequent Receivables. Subject to the conditions set forth in Section 4.1(b), in consideration of the Purchaser's delivery on the related Subsequent Transfer Date to or upon the order of the Originator of the related Subsequent Purchase Price pursuant to Section 2.5, the Originator does hereby sell, transfer, assign, set over and otherwise convey to the Purchaser, without recourse (subject to the obligations herein), all of its right, title and interest in, to and under: (i) the Subsequent Receivables listed on Schedule A to the related First-Tier Subsequent Transfer Assignment, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all moneys paid thereunder on or after the related Subsequent Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to such Subsequent Receivables and any other interest of the Originator in such Financed Equipment; (iii) any proceeds with respect to such Subsequent Receivables from claims on insurance policies covering Financed Equipment or Obligors; (iv) any proceeds with respect to such Subsequent Receivables from recourse to Dealers other than any interest in the Dealers' reserve accounts maintained with the Originator; (v) any Financed Equipment that shall have secured any such Subsequent Receivable and that shall have been acquired by or on behalf of the Purchaser; and (vi) the proceeds of any and all of the foregoing (other than Recoveries).
Conveyance of Subsequent Receivables. In consideration of the Issuer's ------------------------------------ delivery to or upon the order of the Seller of $____________, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse (except as expressly provided in the Sale and Servicing Agreement), all right, title and interest of the Seller in and to:
Conveyance of Subsequent Receivables. In consideration of the Purchaser's delivery to or upon the order of the Seller of $37,513,308.43 (the "Subsequent Receivables Purchase Price"), the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Purchaser, without recourse (except as provided in the Purchase Agreement), all right title and interest of the Seller in and to: (i) the Subsequent Receivables listed on Schedule A hereto, and all moneys due thereon on or after the related Subsequent Cutoff Date; (ii) an assignment of the security interests in the Financed Vehicles granted by Obligors pursuant to such Subsequent Receivables and any other interest of the Seller in such Financed Vehicles; (iii) any proceeds with respect to such Subsequent Receivables from claims on any physical damage, credit life or disability insurance policies covering the related Financed Vehicles or Obligors and any proceeds from the liquidation of such Subsequent Receivables; (iv) any proceeds from any Subsequent Receivable repurchased by a Dealer, pursuant to a Dealer Agreement, as a result of a breach of representation or warranty in the related Dealer Agreement; (v) all of the Seller's rights under any extended warranty service contracts on the related Financed Vehicles; (vi) the related Receivables Files; and (vii) the proceeds of any and all of the foregoing.
Conveyance of Subsequent Receivables. MCC hereby sells, transfers, assigns, sets over and otherwise conveys to Funding, without recourse (subject to the obligations herein) all right, title and interest of MCC in and to the following, whether now existing or hereafter created: (i) all right, title and interest of MCC, in and to the Subsequent Receivables listed on Schedule I attached hereto and made a part hereof and all monies (including accrued interest) due or to become due, or received thereunder on or after the Subsequent Cut-off Date; (ii) the interest of MCC in the Financed Equipment granted by Obligors pursuant to the Subsequent Receivables; (iii) the interest and rights of MCC in any proceeds with respect to the Subsequent Receivables from claims on any physical damage, credit life or disability insurance policies covering Financed Equipment or Obligors with respect to Financed Equipment; and (iv) the proceeds of any of the foregoing.
Conveyance of Subsequent Receivables. In consideration of the Issuer's ------------------------------------ delivery to or upon the order of the Seller of $____________, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse (except as expressly provided in the Sale and Servicing Agreement), all right, title and interest of the Seller in and to: (a) the Subsequent Receivables and all moneys received thereon, on and after the related Subsequent Cutoff Date; (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Subsequent Receivables and any other interest of the Seller in such Financed Vehicles; (c) any proceeds and the right to receive proceeds with respect to the Subsequent Receivables from claim and the right to receive proceeds on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors; (d) all rights of the Seller against the Dealers; (e) any proceeds with respect to the Subsequent Receivables from recourse to Dealers in respect to which the Servicer has determined in accordance with its customary servicing procedures that eventual payment in full is unlikely; (f) the related Receivables Files; (g) its rights and benefits, but none of its obligations or burdens, under the Subsequent Transfer Agreement, including the delivery requirements, representations and warranties and the cure and repurchase obligations of AmeriCredit and CP Funding under the Subsequent Purchase Agreement, on or after the Subsequent Cutoff Date; and (h) the proceeds of any and all of the foregoing.
Conveyance of Subsequent Receivables. Subject to the conditions set forth in paragraph (b) below, in consideration of the Issuer's delivery on each related Subsequent Transfer Date to or upon the order of the Seller of the amount described in Section 5.10(a) to be delivered to the Seller, the Seller will, on the related Subsequent Transfer Date, sell, transfer, assign, set over and otherwise convey to the Issuer without recourse (subject to the obligations set forth herein) all right, title and interest of the Seller in and to:
Conveyance of Subsequent Receivables. In consideration of the Issuer's delivery to or upon the order of the Seller of $____________, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse (except as expressly provided in the Sale and Servicing Agreement) and does hereby grant to the Trust Collateral Agent, in trust for exclusive use and benefit of all present and future Noteholders and the Insurer, all right, title and interest of the Seller in and to the following, whether now owned or hereafter acquired: the Subsequent Receivables and all moneys received thereon, on and after the related Subsequent Cut-off Date (including amounts due on or before the Subsequent Cut-off Date but received by NAFI, the Seller or the Issuer on or after the Subsequent Cut-off Date);
Conveyance of Subsequent Receivables. Subject to the conditions set forth in Section 5 hereof, in consideration of the payment of the Subsequent Receivables Purchase Price to or upon the written order of the Depositor, the Depositor does hereby sell, transfer, assign, set over and otherwise convey to the Trustee, in trust for the benefit of the Certificateholders, without recourse, all right, title and interest of the Depositor in and to: